Bank of America Corp DE Reduces Stock Holdings in nVent Electric PLC $NVT

Key Points

• Bank of America cut its nVent Electric stake by 23.6% in the first quarter, selling 563,763 shares and retaining 1.82 million shares worth about $215.8 million. Institutional investors collectively own 90.05% of the company.
• nVent reported a strong quarter, with earnings of $1.45 per share and revenue of $1.47 billion, beating estimates and increasing revenue 52.8% year over year. The company issued fiscal 2026 EPS guidance of $5.00–$5.10.
• The board authorized a $500 million share buyback, while analysts maintain a consensus “Buy” rating with an average price target of $198.79; insiders have sold $8.49 million of stock over the past three months.

Bank of America Corp DE lowered its holdings in nVent Electric PLC (NYSE:NVT - Free Report) by 23.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,824,287 shares of the company's stock after selling 563,763 shares during the quarter. Bank of America Corp DE owned 1.13% of nVent Electric worth $215,777,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of nVent Electric in the 4th quarter valued at about $245,955,000. Price T Rowe Associates Inc. MD boosted its position in nVent Electric by 361.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,577,555 shares of the company's stock worth $262,835,000 after purchasing an additional 2,019,483 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in shares of nVent Electric by 3,467.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 1,326,100 shares of the company's stock worth $130,807,000 after purchasing an additional 1,288,924 shares during the period. Merewether Investment Management LP purchased a new position in shares of nVent Electric during the 2nd quarter valued at approximately $78,222,000. Finally, Amundi lifted its stake in shares of nVent Electric by 146.8% in the 1st quarter. Amundi now owns 1,092,802 shares of the company's stock valued at $129,257,000 after purchasing an additional 649,992 shares during the period. Hedge funds and other institutional investors own 90.05% of the company's stock.

Insider Activity at nVent Electric

In other nVent Electric news, CMO Martha Claire Bennett sold 3,778 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $170.00, for a total transaction of $642,260.00. Following the completion of the transaction, the chief marketing officer owned 225 shares of the company's stock, valued at $38,250. This represents a 94.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Sara E. Zawoyski sold 29,412 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $172.49, for a total value of $5,073,275.88. Following the completion of the transaction, the insider owned 97,068 shares in the company, valued at approximately $16,743,259.32. This trade represents a 23.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 49,132 shares of company stock valued at $8,489,444. 1.70% of the stock is owned by corporate insiders.

nVent Electric Price Performance

nVent Electric stock opened at $162.28 on Wednesday. The stock has a market capitalization of $26.27 billion, a P/E ratio of 44.34, a P/E/G ratio of 1.36 and a beta of 1.37. The company's fifty day moving average price is $161.78 and its 200 day moving average price is $139.91. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.33 and a current ratio of 1.80. nVent Electric PLC has a 1 year low of $85.72 and a 1 year high of $184.64.

nVent Electric (NYSE:NVT - Get Free Report) last posted its quarterly earnings data on Friday, July 31st. The company reported $1.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.16 by $0.29. The company had revenue of $1.47 billion during the quarter, compared to analysts' expectations of $1.26 billion. nVent Electric had a net margin of 12.38% and a return on equity of 18.85%. The firm's revenue for the quarter was up 52.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. nVent Electric has set its Q3 2026 guidance at 1.350-1.380 EPS and its FY 2026 guidance at 5.000-5.100 EPS. As a group, equities research analysts anticipate that nVent Electric PLC will post 5.05 earnings per share for the current fiscal year.

nVent Electric announced that its Board of Directors has approved a stock buyback program on Saturday, May 16th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 1.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

nVent Electric Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 7th. Investors of record on Friday, July 24th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $0.84 dividend on an annualized basis and a yield of 0.5%. nVent Electric's dividend payout ratio (DPR) is currently 22.95%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NVT. Sanford C. Bernstein set a $220.00 price target on shares of nVent Electric in a report on Thursday, July 9th. Weiss Ratings upgraded shares of nVent Electric from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday. Wall Street Zen raised shares of nVent Electric from a "buy" rating to a "strong-buy" rating in a research note on Sunday, June 21st. Robert W. Baird raised their target price on nVent Electric from $188.00 to $200.00 and gave the company an "outperform" rating in a research report on Monday. Finally, Barclays lifted their price target on nVent Electric from $150.00 to $190.00 and gave the company an "overweight" rating in a research note on Monday, May 4th. Three research analysts have rated the stock with a Strong Buy rating and fourteen have given a Buy rating to the stock. According to MarketBeat, nVent Electric presently has a consensus rating of "Buy" and a consensus target price of $198.79.

nVent Electric Profile

nVent Electric PLC is a global manufacturer of electrical connection, protection and thermal management solutions. The company designs, engineers and produces a broad portfolio of products aimed at enhancing safety, reliability and performance in electrical systems across a variety of industries. Its core offerings include electrical enclosures, heat tracing systems, grounding and bonding products, cable management, and fastening solutions. nVent serves markets such as commercial and industrial construction, oil and gas, telecommunications, data centers, utilities, and renewable energy.

The company's electrical enclosures and housing solutions protect sensitive components from environmental hazards, while its Raychem brand heat tracing products provide freeze protection and temperature maintenance for critical piping and equipment.

Want to see what other hedge funds are holding NVT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for nVent Electric PLC (NYSE:NVT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source